Germany-based start-up Mitte has received $10.6 million in a seed funding round led by Danone Manifesto Ventures, VisVires New Protein Capital, and Kärcher New Venture.
Mitte has developed a countertop water system that purifies water by distillation and offers cartridges which create drinking water enriched with minerals, creating an at-home alternative to bottled water products.
According to Mitte, this funding round will help its international expansion efforts, particularly in the US. Mitte also ran a crowdfunding campaign in 2017 that was overfunded by 360%.
Mitte’s mineral cartridges contain varying levels of natural minerals of meaning consumers can “personalise their daily drinking water,” and the cartridges are designed to replicate the mineralisation process of water in the natural water cycle.
Each cartridge can produce approximately 250 litres of mineralised water, and the countertop system also eliminates the need for plastic bottles.
Moritz Waldstein, founder and CEO of Mitte said: “Mitte is on a mission to improve lives with healthy water produced in an environmentally friendly system. We aim to offer consumers clean and healthy water.
“For Mitte, healthy water means two things; free of contaminants and full of minerals that are known to be essential for humans. We are thrilled to be supported by forward-looking partners like Danone Manifesto Ventures and VisVires New Protein Capital that understand our mission.
“We believe this partnership will position us to execute on our expansion plan as we benefit from our partners’ significant food and beverage expertise.
“We are confident that Mitte’s positive impact will affect every aspect of the way people consume water, the environment and make an impact on the hydration industry as a whole.”
Laurent Marcel, managing director of Danone Manifesto Ventures added: “Mitte is a compelling business that is differentiated from other at-home water purification products with its ability to create personalized purified waters enriched with minerals, as well as with its smart technology and IoT connectivity.”
Jean-Francois Hurel, head of investment at Danone Manifesto Ventures said: “We believe that Mitte has significant potential and represents a strong strategic fit for Danone Manifesto Ventures, advancing our goal of promoting health through hydration.
“We look forward to supporting Mitte’s ambition to provide consumers with the opportunity to choose their preferred mineralization levels and taste profile.”
© FoodBev Media Ltd 2020
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